FAMILY LAW ACT 1975 - SECT 90YO Operative time for payment flag

FAMILY LAW ACT 1975 - SECT 90YO

  (1)   The operative time for a payment flag under a superannuation agreement is:

  (a)   the service time, if the eligible superannuation plan is a self - managed superannuation fund; or

  (b)   otherwise, the beginning of the fourth business day after the day on which the service time occurs.

  (2)   In this section:

"self-managed superannuation fund" has the same meaning as in the SIS Act.

"service time" means the time when a copy of the agreement is served on the trustee, accompanied by:

  (a)   a separation declaration with a declaration time that is not more than 28 days before the service on the trustee; and

  (b)   if a form of declaration is prescribed for the purposes of this paragraph--a declaration in that form.